Freelance Research Analyst

Tay Hock Meng

Thematic (Sector/Industry)

We often hear people asking each other whether now is the good time to upgrade or buy the private condominium or apartment they have always wanted given that developers are offering many so-called &lsquo;star&rsquo; buys of properties in the hope of clearing their housing inventories, and the spectre of higher interest rates, such as the three-month Singapore Interbank Offered Rate (SIBOR) which could rise to an expected 2% this year (As of Oct 9, three-month SIBOR stands at 1.13%). Could this be an opportunity to enter the market, before the market turns for the worst?

We often hear people asking each other whether now is the good time to upgrade or buy the private condominium or apartment they have always wanted given that developers are offering many so-called &lsquo;star&rsquo; buys of properties in the hope of clearing their housing inventories, and the spectre of higher interest rates, such as the three-month Singapore Interbank Offered Rate (SIBOR) which could rise to an expected 2% this year (As of Oct 9, three-month SIBOR stands at 1.13%). Could this be an opportunity to enter the market, before the market turns for the worst?

Has the private housing market reached stability?

The Urban Redevelopment Authority (URA) has released its overall 3Q2015 flash property price index (PPI) showing a quarter-on-quarter (q-o-q) decline of 1.3% against 2Q2015, as compared to 0.9% decline in 2Q2015. The city centre or core central region (CCR) prices declined 1.3% versus 0.6% in 2Q2015, while city fringe (RCR) and suburban (OCR) prices declined 1.5% and 1.6% q-o-q respectively. 2Q2015 RCR and OCR prices showed 0.6% and 1.1% declines respectively.

The Urban Redevelopment Authority (URA) has released its overall 3Q2015 flash property price index (PPI) showing a quarter-on-quarter (q-o-q) decline of 1.3% against 2Q2015, as compared to 0.9% decline in 2Q2015. The city centre or core central region (CCR) prices declined 1.3% versus 0.6% in 2Q2015, while city fringe (RCR) and suburban (OCR) prices declined 1.5% and 1.6% q-o-q respectively. 2Q2015 RCR and OCR prices showed 0.6% and 1.1% declines respectively.

Has Singapore's private residential prices bottomed out?

Asia's Leading Online Property Group, PropertyGuru

Bjorn Sprengers

Asia's Leading Online Property Group

PropertyGuru

PropertyGuru Pte Ltd owns and operates a real estate property information website. The Company offers facilities to search for condominiums, apartments, Housing and Development Board (HDB) flats, serviced apartments, houses, and commercial properties to rent and buy in Singapore.

With prices of landed homes falling faster than their non-landed counterparts, should prospective buyers take advantage of the slow market to secure their dream home? We investigate:<ul><li>Prices and volumes for landed property have come down since the implementation of the cooling measures, and are likely to remain stagnant unless affordability increases</li><li>Freehold landed property weathers the market downturn a little better than leasehold landed property, but this does not mean leasehold landed property has become more affordable</li><li>Landed enclaves along the upcoming Thomson-East Coast MRT line are seeing increased popularity on PropertyGuru, and should enjoy higher prices and a higher volume of transactions in the medium term</li></ul>

With prices of landed homes falling faster than their non-landed counterparts, should prospective buyers take advantage of the slow market to secure their dream home? We investigate:Prices and volumes for landed property have come down since the implementation of the cooling measures, and are likely to remain stagnant unless affordability increasesFreehold landed property weathers the market downturn a little better than leasehold landed property, but this does not mean leasehold landed property has become more affordableLanded enclaves along the upcoming Thomson-East Coast MRT line are seeing increased popularity on PropertyGuru, and should enjoy higher prices and a higher volume of transactions in the medium term

Landed property ownership looking more like a reality

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<ul><li>Perhaps the old thinking, of DBS Group Holdings being safe and conservative is outdated.</li><li>Its bad loan experience in China is amongst the worst in the country.</li><li>There are 59 banks there with a lower bad loan ratio than DBS Bank (China).</li><li>While in India it is reporting a loss, with bad loans at nearly 8% of total.</li><li>Its credit costs in India have been higher than operating profit for the past two years.</li><li>Perhaps its time to look a bit closer at these subsidiaries, and at the same time, reconsider the long-held perception of this stalwart SE Asian bank?</li></ul>Full report below the fold....

Perhaps the old thinking, of DBS Group Holdings being safe and conservative is outdated.Its bad loan experience in China is amongst the worst in the country.There are 59 banks there with a lower bad loan ratio than DBS Bank (China).While in India it is reporting a loss, with bad loans at nearly 8% of total.Its credit costs in India have been higher than operating profit for the past two years.Perhaps its time to look a bit closer at these subsidiaries, and at the same time, reconsider the long-held perception of this stalwart SE Asian bank?Full report below the fold....

The ruling Peoples&rsquo; Action Party (PAP) has gotten an overwhelming voters&rsquo; endorsement following the conclusion of the jubilee year GE on September 11. One of the questions investors and homeowners might be asking, will the government be lifting any property measures, and if so, which are the measures that could be lifted?

The ruling Peoples&rsquo; Action Party (PAP) has gotten an overwhelming voters&rsquo; endorsement following the conclusion of the jubilee year GE on September 11. One of the questions investors and homeowners might be asking, will the government be lifting any property measures, and if so, which are the measures that could be lifted?

Post Singapore General Election (GE), what's next for residential property market?

Singapore

DBS Group Holdings Limited and its subsidiaries provide a variety of financial services.  The Company offers services including mortgage financing, lease and hire purchase financing, nominee and trustee, funds management, corporate advisory and brokerage .  DBS Group also acts as the primary dealer in Singapore government securities.

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DBS (DBS SP)

Has the private housing market reached stability?

We often hear people asking each other whether now is the good time to upgrade or buy the private condominium or apartment they have always wanted...

Tay Hock Meng

Has Singapore's private residential prices bottomed out?

The Urban Redevelopment Authority (URA) has released its overall 3Q2015 flash property price index (PPI) showing a quarter-on-quarter (q-o-q)...

Tay Hock Meng

Landed property ownership looking more like a reality

With prices of landed homes falling faster than their non-landed counterparts, should prospective buyers take advantage of the slow market to...

PropertyGuru

DBS surprises with risk in China, India

Perhaps the old thinking, of DBS Group Holdings being safe and conservative is outdated. Its bad loan experience in China is amongst the worst in...

Daniel Tabbush

Post Singapore General Election (GE), what's next for residential property market?

The ruling Peoples’ Action Party (PAP) has gotten an overwhelming voters’ endorsement following the conclusion of the jubilee year GE on September...

Tay Hock Meng

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52-week Range

Market Cap (USDm)

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